Economy · Full coverage

Meitav Acquires Full Control of Peninsula Credit Company Without Cash Payment

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

Unrated 2

First reported by Calcalist · 24 hours ago

What happened

Meitav Investment House has taken full control of Peninsula by acquiring all remaining public shares through a stock swap valued at 93 million shekels, delisting the company from the Tel Aviv Stock Exchange and making it private. Peninsula, a non-bank credit firm, has grown significantly under Meitav's ownership since 2015 and will now be led by new CEO Asaf Ezra.

01Meitav increased its stake in Peninsula to over 95%, enabling compulsory purchase of remaining shares.
02The acquisition was completed via a stock swap, not cash, exchanging one Meitav share for 38.5 Peninsula shares.
03Meitav’s shares have surged over 1,000% in three years, valuing the company at 11.3 billion shekels.
04Peninsula was publicly traded for over a decade before being taken private by Meitav.
05Peninsula reported 158 million shekels in financing revenue and 72 million shekels net profit last year.
06Asaf Ezra was appointed CEO of Peninsula following the privatization.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

In this story

People